I used to work at both stores (CBS first for a few years, then quit to work at UBS for a year or two). The owner of that place (CBS) had some major issues. I'm not surprised to see them go under at all.
Campus Bookstore in Ames
- Thread starter Cycsk
- Start date
Not necessarily. Many of the more expensive books are sold at a loss. Bookstore buys it for $300 then sells it for $200 in an effort to try and keep them reasonably priced. Then pay student $50 for it to sell used for $100 and try to make back their money.
The price of textbooks is out of control and the publishers can't figure out why instances of books being stolen is skyrocketing (either purchased, copied, and returned or people are getting online versions and sharing them).
Since when did bookstores care about "keeping them reasonably priced?" They care about profit. I have trouble imagining a bookstore taking a $100 loss on a book with the prospect of maybe making up $50 in a buy-back.
The only way I see a bookstore "losing" money on books is if they include lots of overhead costs into their calculations.
You have to keep them reasonable or no one buys your product. They have to do every little thing possible to keep students away from Amazon/Chegg/Buy.com/etc. Those numbers were very rough but that's the philosophy. No different than a car dealership. Places will sell new cars at cost to move the inventory knowing that they'll be able to make money hand over fist on the trade. In the dealership case the exchange is at the same time. In the bookstore there's a bit longer stagger.
And the vast majority of books aren't only used for one academic year. They'll absorb a loss in year 1 and then make a killing off the used books. The Bookstore isn't a normal business. It has to play by different rules because of the clientele it serves.
Yeah, that's not really too crazy of a concept in a lot of businesses...Most gaming consoles are sold at a loss because they know they'll make it back in games and accessories over the lifetime of the product.
Have never worked at a bookstore, but always assumed that what you stated was the case.
That would be terrible... The last thing an area like that needs is a giant, sprawling convenience store and gas station... So, being Ames, I'm sure it will happen.
I would love to see a large bar and grill with some outdoor drinking space/beer garden facing the corner in that spot.
If B-Dubbs hadn't already moved to S. Duff that would've been a perfect place for a campus town location. Hope we get some kind of Sports Bar & Grill in there. Best possible scenario, and seems like a no brainer in terms of location...
That location is exactly why a bar & grill is a risky move. Too many students. Not enough parking to get other people in Campustown. I can't remember the last time I was in a reasonably priced bar & grill. College students aren't going to pay $7 for a burger and fries and then $5 for each drink. Legends found that out the hard way.
I've never worked at a bookstore, but I have a hard time believing they sell at a loss. And just out of the goodness of their heart. :skeptical:
C
CyBer
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I hated campus bookstore the people who ran it were ******** I avoid that place at all costs. Hire some friendly people and maybe I would go back.
I don't think many car dealers are selling new cars at a loss either. Selling "under invoice" is not the same as selling at a loss. There are lots of discounts and extra fees associated with an "under invoice" sale.
Granted, the bigger profits are in the resales of books, but I still am doubtful if there is true loss in the original sales.
The University Bookstore isn't a traditional business. It's run by a University who has an interest in keeping money in said Bookstore. In order to do that they need to do what they can to compete with online vendors as the number of students who buy books in the bookstore versus online is constantly falling even as enrollment rises. They HAVE to sell them at a loss to move product. The most expensive products are products still sitting on your shelves, especially in a case where the initial sale doesn't net you much but subsequent sales are at a 50%+ profit margin.
As a design student I used and needed both book stores on almost weekly basis for supplies. The MU bookstore had a larger selection but Campus book store had some things they didn't have and better prices on some things.
Would have really sucked for me when I was a student if it had closed. For art and design supplies there's always an advantage for real retail vs. online because often you need to see and feel it in person and often you need it the same day. Even with both book stores I'd end up going to Des Moines once in a while for something.
Would have really sucked for me when I was a student if it had closed. For art and design supplies there's always an advantage for real retail vs. online because often you need to see and feel it in person and often you need it the same day. Even with both book stores I'd end up going to Des Moines once in a while for something.
Sounds like there is an opening for an art supplies store in Ames for some entrepeneur.
Books are now bought online... they're cheaper that way. Plus the campus bookstore usually just seemed dumpy.... My opinion I guess.
True, though presumably the parking ramp on Chamberlain will be completed before anything would open up which should alleviate some of the street parking.
Legends was a disaster for a lot of reasons other than being in campus town.
Yes, college students are cheap, but there was still a 45+ minute wait at BW3 most evenings last semester. Just takes someone willing to serve a decent product with a little innovation.
Still looked open when I drove by today. Anybody know for sure? Anybody know what stock is left, such as cool t-shirts?
Actually I think there's a Hobby Lobby now which probably helps. Although I'm sure the book store has more specialized supplies than Hobby Lobby, they run out of things like anybody else.
While I tend to agree with you because I lived off buck burgers at Paddys, Peoples, and Diamond Daves (Remember that place?), I bet college kids will have no problem keeping Texas Roadhouse in business even when it won't be as close to campus as a bar and grill could be.
People can say, it won't work, look at Legends. That place didn't work because of the customer service, urine smelling elevator, management, etc. I think a 5 guys-ish place in campustown that would serve beer could do great business. It could look similar to Brothers in the ped mall in IA City.
